Federal Government has declared its decision to begin an annual Micro Small and Medium Enterprises (MSMEs) awards to recompense small businesses in the country.
This MSMEs account for nearly 50% of Nigeria’s Gross Domestic Product and it provides a 70% estimate of total employment for the country’s citizens.
Federal Government is aware of this and is using the opportunity to recompense some MSMEs.
The special assistant to the vice president on MSMEs, Mr. Tola Johnson stated this at a press briefing in Abuja.
The award ceremony is slated for Thursday, August 2, 2018 in Abuja and will subsequently rotate around the six geo-political zones in Nigeria.
Johnson stated that winners in various categories will go home with brand new car, cash reward and important work tools to amplify their businesses.
Newsmen gathered that the window open to Nigerian entrepreneurs to nominate worthy small business owners is extended to allow more small businesses participate in the process.
This award has generated excitement among small business owners in the country.
A fashion designer, Emilia Nwankwo, based in Uyo expressed appreciation saying that this award is a good initiative and vowed to nominate herself and her friends.
She urged the government to provide financial access to aid small businesses in the country.
The award will be in 12 categories namely: MSME of the Year, Young MSME of the Year, Most Friendly MSME State, Excellence in Creative Arts, Excellence in Agriculture, Excellence in Manufacturing, Excellence in Technology Innovation and Excellence in Fashion and Style.
Other categories are: Excellence in Leather Works, Excellence in Furniture and Wood Works, Excellence in Beauty, Wellness and Cosmetics as well as Excellence for Non-Profit Service to Humanity.
Criteria for the selection process will be outstanding business concept, locally produced goods, use of local technology and provision of conducive atmosphere for MSMEs to thrive among others.